Commercial LPG rates reduced by Rs 183.50 after record high last month

Prices of commercial LPG, used by hotels and restaurants, were cut by Rs 183.50 per 19-kg cylinder on Wednesday, marking the first reduction in rates this year.

Commercial LPG now costs Rs 2,930 per 19-kg cylinder, oil companies said.

Commercial LPG rates had touched an all-time high of Rs 3,113 per 19-kg cylinder last month as the West Asia crisis fuelled a surge in crude oil prices.

The latest revision is the first reduction in commercial cooking gas prices this year after a series of increases linked to the West Asia crisis, which disrupted energy supplies across the globe.

Commercial LPG prices are revised on the first day of every month based on average benchmark rates during the previous month.

The price of domestic 14.2-kg LPG cylinders, however, remained unchanged at Rs 942. Domestic cooking gas rates were last increased by Rs 29 on June 7.